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 Running Time: 15:02 Date: 01/07/2019
- Remove entitlement to MRE for foreign residents
- Deductions to be disallowed for vacant land
- Changes to Division 7A
- Partnerships, the rights to future income and CGT
- Individual tax residency rules to be re-written
- Taxation of income for an individual's fame or image
- Anti-avoidance rules for circular trust distributions
- Increase the maximum number of allowable members in SMSFs from 4 to 6
- High-income employees with multiple employers to opt-out of the SGA regime
- NALI expanded so SMSFs taxed at 45% on transactions that are not billed
- Member's TSB to include share of outstanding balance LRBAs
- Super contributions work test exemption (1 years grace to $300k)
Topics: Accounting & Tax
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Peter McGinty, Chartered Accountants Australia and New Zealand |
